Jefferies Group LLC Reiterates “Hold” Rating for Sunoco LP (SUN)
Sunoco LP (NYSE:SUN)‘s stock had its “hold” rating restated by investment analysts at Jefferies Group LLC in a research note issued to investors on Monday. They currently have a $30.00 price objective on the oil and gas company’s stock, up from their previous price objective of $29.00. Jefferies Group LLC’s price objective indicates a potential downside of 5.39% from the stock’s previous close.
Several other equities analysts have also recently weighed in on SUN. Royal Bank Of Canada reiterated an “outperform” rating and issued a $35.00 price target (up from $32.00) on shares of Sunoco in a research report on Wednesday, September 6th. UBS AG reiterated a “neutral” rating and issued a $30.00 price target (up from $28.00) on shares of Sunoco in a research report on Monday, August 14th. BidaskClub upgraded Sunoco from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Mizuho cut Sunoco from a “neutral” rating to an “underperform” rating and set a $28.00 price target for the company. in a research report on Monday, July 10th. Finally, Vetr upgraded Sunoco from a “hold” rating to a “buy” rating and set a $32.56 price target for the company in a research report on Thursday, June 1st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Sunoco presently has a consensus rating of “Hold” and an average target price of $31.25.
Shares of Sunoco (NYSE SUN) traded down 0.47% on Monday, reaching $31.71. The company’s stock had a trading volume of 138,337 shares. Sunoco has a 52-week low of $21.01 and a 52-week high of $32.67. The firm’s 50 day moving average is $31.30 and its 200-day moving average is $29.26. The stock’s market cap is $3.15 billion.
ILLEGAL ACTIVITY NOTICE: “Jefferies Group LLC Reiterates “Hold” Rating for Sunoco LP (SUN)” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another publication, it was stolen and reposted in violation of international trademark and copyright legislation. The correct version of this news story can be read at https://www.americanbankingnews.com/2017/09/11/sunoco-lp-sun-pt-raised-to-30-00-at-jefferies-group-llc.html.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SUN. Bank of America Corp DE lifted its stake in shares of Sunoco by 82.4% in the 1st quarter. Bank of America Corp DE now owns 1,852,879 shares of the oil and gas company’s stock valued at $44,784,000 after acquiring an additional 836,902 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Sunoco by 176.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,276,801 shares of the oil and gas company’s stock valued at $39,084,000 after acquiring an additional 815,130 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Sunoco in the 2nd quarter valued at about $10,986,000. Northwestern Mutual Investment Management Company LLC bought a new stake in shares of Sunoco in the 2nd quarter valued at about $5,843,000. Finally, OppenheimerFunds Inc. lifted its stake in shares of Sunoco by 1.0% in the 1st quarter. OppenheimerFunds Inc. now owns 13,386,079 shares of the oil and gas company’s stock valued at $323,542,000 after acquiring an additional 129,040 shares during the last quarter. 30.88% of the stock is owned by institutional investors.
Sunoco Company Profile
Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company operates through two segments: wholesale and retail.
Receive News & Ratings for Sunoco LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunoco LP and related companies with MarketBeat.com's FREE daily email newsletter.